Are there any other benefits of having a Revocable Living Trust?
There are several other benefits of having a Revocable Living Trust, including:
- Revocable Living Trusts are private documents that do not require court approval.
- Your beneficiaries will not have to wait for court permission to approve distributions of trust property.
- Outsiders and potential predators will also be prevented from learning the terms of your estate plan and using the knowledge against your loved ones. Court challenges to wills are successful 25% of the time.
- A Living Trust is more difficult to attack partly because its instructions are not readily available to relatives or others who might not be happy with these instructions.
- A Living Trust can hold property owned by a family in more than one state and save the family the cost and difficulty of conducting probates in multiple states.
For all these reasons and many others, Revocable Living Trusts are the legal tools that we find most often best accomplish our client’s planning goals.